Infosys shares jump after Nilekani named non-exec chairman

Reuters Staff

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MUMBAI, Aug 28 (Reuters) - Shares of Infosys Ltd rose as much as 4.6 percent on Monday, after co-founder Nandan Nilekani returned as chairman raising hopes that a months-long row between the board and the founders of the country’s second-biggest software services exporter will be resolved.

Infosys shares were trading 3.5 percent higher at 0401 GMT in a Mumbai market that was up 0.3 percent.

Nilekani, one of the company’s seven founders who was its chief executive between 2002 and 2007, was named as non-executive chairman late Thursday evening.

Indian markets were closed on Friday for a public holiday. (Reporting by Sankalp Phartiyal)